Harmony DAO, on Staking and Social Mining
“Merhaba” Notable members of the Harmony Community, My Comrades. I want to participate as an active member of the community in the social mining debate that has been heating up in recent days. Our common goal is to produce quality products for our community. Our common goal is to grow the Harmony one project. First of all, our shared goal for all of us is to raise awareness of Blockchain technology for the freer world and fairer economy.
I want to start with DAO and why social mining matters. If you’ll be patient and read, I’ll write my suggestions for growing our community. Introduced by Nikolaos Kostopoulos’s article on October 3, The DAO Maker and Harmony Initiative offered a whole new perspective on the world of blockchain. Discussions began that DAO organizations could play an essential role in promoting projects. We all know that staking out projects that aim to achieve consensus with PoS is one of the critical issues. The presence of hodl tokens in a large number of wallets increases the stability of the network, creating secure verifiers. The natural result of this is increased scalability. The scalability of the network increases as the number of nodes and stakes increases in the sharding architecture, especially in blockchain networks. Let me explain some of these allegations.
What is DAO in short?
Derived from its definition of Decentralized Autonomous Organization, The DAO concept is one of the revolutions that blockchain technology has added to our lives. It radically changes the functioning of traditional governing organizations. It does not need a central authority. It is the closest form of government to real democracy. The decision mechanism works by the votes of the community, and Dao’s smart contracts determine the rights and restrictions of the community. This self-governing organization was created to fulfill a common mission. Lack of human intervention means self-preservation from human frailties. This feature is also one of the primary conditions of reliability. All members of the community participate in the vote. Still, their impact is directly proportional to the amount of tokens they hold in their wallets and any gains and productions they provide for the community. One of the primary conditions to be impressive in the community is that you do hodl.
There are many answers to the question of why we should do Hodl. If you need to sort it briefly;
* Staking is primarily necessary for the regular operation of the network. As the amount of tokens, you keep in your wallet increases here, your contribution to scaling increases.
* It gives you two-way gain personally. You are rewarded when you vote to verify the affairs of the community. If you do token hodl as much as the project requires, you will be able to work actively in the community. That way, you will be rewarded for your work on behalf of the community.
* As the amount of tokens made in Hodl increases, the volatility on the token market value decreases. The liquidity of tokens with a stable market value that tends to rise increases. It is no coincidence that the cryptos, where liquidity is highest in the Hummingbot’s research, are stablecoin.
* Increasing the amount of tokens fixed in wallets means the withdrawal of tokens from the market. As a result, the market value of your digital currency rises.
* It is necessary to add an essential feature of human psychology here. A passion for private property. It’s off the topic, but I think it’s one of the best examples. I believe that love for private property is the reason behind the collapse of the seemingly ideal systems of socialist economies, where all people are equal, defending the rights of the working class against the rule of an oligarchic class. If you add your money to the project while promoting a project, the growth of the project will provide two times the revenue. You earn from producing professional work and gain from investing as token value increases. Here’s your great motivation!
DAO Maker and Harmony social mining:
Now we can start talking about social mining in DAO Maker and Harmony.
DAO Maker Social Mining Welcome Guide if you still haven’t read it here , you must read it.
You will see a source of application that everyone who does social mining needs to examine thoroughly.
Social mining can be defined as engaging in promotional activities for a project that seeks to produce a decentralized and open-source blockchain network and cryptocurrency and winning awards from these activities. That’s exactly what we’re trying to do at Harmony. Our job is to promote the project with all our capabilities on social media channels. Some of us keep the Harmony Project on the agenda with remarkable artistic designs, while some of us are keeping topical by writing tweets to our followers from Harmony developments. Some of us, like me, are trying to raise awareness of Harmony within social media by writing articles. Apart from all these promotional products, we try to increase motivation by voting on the jobs produced by our community and rewarding the designs we like with high scores. We have two reasons for this.
* Every good work we do earns us $ONE. Here’s your most compelling motivation.
* The beautiful work in our community increases the value and awareness of $ONE token. We’re all $one investors at the same time.
In this case, things are excellent. What a wonderful organization and Democratic administration we do our jobs. I want to say this. However, many of the correct criticisms expressed by community members on telegram channels in recent weeks show that some points need to be discussed. Let me take part in these discussions and share my ideas with you.
1. The pressure of competition and ranking on the prize.
We all worry about whether it will naturally get upvote when producing a business. This anxiety is undoubtedly motivational. But the same reward anxiety causes you to pay attention to those who give you the up at some point. After a while, instead of looking at the content of those who gave you plenty of upvotes, you start voting to please them. This is very dangerous. If you don’t pay attention, instead of liking the rich content, you can begin to give high points to the content that will give you upvote.
2.Can you Be an OBJECTIVE Validator?
I think there’s only one way to be objective. You will not produce content. Maybe two different verifier groups are needed here.
a. A group of verifiers who will vote for you, but who will not be on these lists. This group can only be formed from those who serve the community as investors.
b. People who are professional content producers commissioned by the team. (People in this group should not be included in these lists either.)
c. But won’t active community members have upvotes? Of course, there should be.
3. Is DOWNVOTE a useless feature?
I disagree with the opinion of my friends, who say downvote should be removed. But downvote shouldn’t affect people’s rankings. Criticism is absolutely essential to thriving. But your downvote reasons should be public and encourage the member. Wouldn’t anyone downvote if it didn’t affect his ranking? In this case, if a small contribution is made to the impact scores of community members using downvote, everyone will continue to write criticism of bad productions that could harm the community. If the reasons for downvote are edited in a way that the community can read, We will also be protected from the unfair and motivational effects of writing.
There are still many problems to write about, many issues to discuss. But if I continue, I’m afraid no one will read I hope that in the coming days, we will do the most productive social mining work for our community. I wish everyone plenty of rewards.
“One for all and all for one”
Written By: N.ipek Celik